Overview: Age: Both wife and I are in our mid/late 30s Income: $400k+ 401k: Full $17,500k each per year IRAs: $5500 each per year Taxable: $24k per year All, my wife and I are in our mid/late 30's and have approximately $78k in Traditional IRAs, about $46k and $32k respectively. Due to our income th...

I agree with most of how to increase your net-worth but here goes my progression. 2001: $0 (First year of working) 2008: $386k 2014 (Current): $1.16MM Biggest mistakes: 1) In 2007, overpaying for a home - and then selling it for a loss 5 or so years later (albeit we had overpaid on it so walked out ...

Our goal that we are working towards is 40x annual expenses. We're in our mid-30s and realize a lot can change between now and then, but the two things we can control that will make that number easier to attain is maximizing how much we save, and minimizing our fixed costs. We work hard at both sim...

Our goal that we are working towards is 40x annual expenses. We're in our mid-30s and realize a lot can change between now and then, but the two things we can control that will make that number easier to attain is maximizing how much we save, and minimizing our fixed costs. We work hard at both sim...

My number: $4,000,000.Assumption this allows approximately a 3-4% withdrawal. We are in our late 30's and have about $570k+ in Retirement Accounts and expect to continue to add anywhere between a combined $46k-$70k for 23-25 years at about 4% annual return rate.

Yes, the numbers are not whole numbers as we make monthly payments and initially in the first few years we would say make a non-deductible contribution of say $4992 - dont ask! Thanks, I do mean IRA basis... We are in our mid 30s and as 'JW Nearly Retired' pointed out we are currently maxing out our...

All A while ago, I posted about cleaning up our finances (we have multiple 401ks, Rollover IRA, Traditional IRAs (non-deductible) etc. We have moved the rollover IRA for her into her 401k and now both are left with a 401k each, and a traditional IRA that we contribute $5500 per year to that is non-d...

OP I would echo that you have a lot of debt, but also a great income. What do you both do, and how stable are your jobs? 1 - For the loan forgiveness, I would pay what needs to be paid, but also save for what you think will be the difference... the rationale, is I assume you are tied to an employer ...

Thanks all... Her Rollover IRA ($94,831) is a rollover from a previous 401k, so it is all pre-tax contributions. Her current employers 401k plan does allow for Rollover IRAs to be rolled in... if this is the case then I assume there is no tax associated to it correct? Now, for her Traditional IRA ($...

I would knock down some debt first and be sure you are going to like the new digs/area first by renting for a year or two. Seen one to many people move for a job and come back in a year or two.[/quote]

Based on what you have said, I would wait at least a year in your new location before you buy a place. That will help you settle down in terms of where in your new location and also your wifes career too. I would have at least 6 months of emergency funds too and include your expected rent, childcare...

Sorry all, one follow up question. I think I am starting to have my ducks in a row. I have a few more questions: 1. a) For my traditional IRA, I have worked out I have a cost basis of about $23,000 so with its value being $27,569. Am I right in thinking as part of the conversion I would owe taxes on...

Apple I would agree that put enough in your 401K that y lou get the match. In addition, how much will the home be that you are looking to buy and how much have you saved already, or is that part of the $52k Emergency Fund? You are in a great position with no debt; if you can afford to, I would buy a...

Your Traditional IRAs have IRA basis due to non-deductible contributions. His and Her IRA basis should have been tracked in His/Her form 8606 each year. Please look in your 2012 tax return for Form 8606. If you've been making non-deductible contributions for many years and not done any withdrawals ...

All, We have started to read the Bogleheads Guide to Investment, however we are still confused about strategies for retirement. Particularly as we think about whether we should or not do Back door ROTH IRAs. We have a number of accounts, and think its a bit of a jumbled mess and thought I would ask ...

As someone who lived in London, I think Location is absolutely key if you are there for 2 weeks. Staying in central London (Zone 1 on the Tube) is ideal (if budget allows it) and will save you a lot on transportation costs and reduce the need for a car etc. Also utilize lastminute.com for tickets, r...

Overall, I think you are doing great. I think benchmarks are always good and if it helps my wife and I have the same issue that we feel we arent saving enough. We are older, (both mid 30s) and we have two kids and save about 21% of our gross wage (401k, tIRA, Brokerage) or 29% if you add in mortgage...

It seems odd to be investing money that you owe to a close relative. I would repay the debt immediately. Also investing with credit cards or balance transfers is not likely to be recommended here. You did well investing with debt, it was risky and paid off. Why not be debt free now and ahead 100k i...

No amount of separation is going to obscure the fact that rich people can save more, invest more, etc. These polls *might* be more useful/intriguing if they were broken down by income level, marital status, cost of living in your area, how many kids you have, etc. Pretty tedious sounding but maybe ...

I guess I took it a different way; I assumed $1 net take home and if I saved 48 cents of it; it would be 46% savings rate. I back filled for 401k and converted the amount I would save if the $17500 a year was taxed and I then had to save the remainder. Based on that; my rate is 31% if I exclude mort...

All, I have a question about deferred comp plans as it in enrollment time and we are eligible this year.. Apologies, if I dont have all of the info needed, let me know if the experts need more :) Ages: 36 and 36 Me: Salary $185k (Current retirement balance $255k) Wife: Salary $140k (Current retireme...

Thank you for the comments. I did not mean to offend anyone. I was definitely not using this thread to brag, just level set how I am doing against others in this community as I know people here are focused on good financial baselines.

All, My partner and I are evaluating how well or badly we are doing towards retirement and wanted to check in. I know this Board is more focused on money, savings etc than the average person but wanted to ask how much have/had you saved up by your mid 30's. Combined we have around $504k (or $252k in...

Please comment. What kinds of comments are you looking for? Praise? Criticism? Comparison? We are in a similar life stage, with a preschooler and an elementary schooler, and in a slightly higher bracket and probably a lower COL. We save a lot more than you do by percentage, and spend a lot less, es...

If you are going to do accounting, I would strongly advise you go work for a 'Big 4' firm at least in the beginning. Hours are LONG, really LONG... but agree with someone else who says when you are young you want to work long hours, learn all you can, develop your network and skill sets so that you ...

Agree with much of what people have already said but here is what 'I' would do if I were in your shoes. (Also, our ages are about the same albeit we are a two income family with two young kids). $250k in bank accounts earning next to nothing, and know I need to fix it. For reference, I have another ...

Hey So, I think some more information would help us all pitch in. What are your current net incomes? Do you have a seperate emergency fund? Does your wife have a 401k? Do you have any other retirement savings or overall assets? What is your house worth and do you have a mortgage, how much? Do you ha...

Echo what most have said here about traveling 50-100% of the time. I did it for years in my old job (I made the airlines top tier by mid March due to biz class international travel) but eentually it becomes VERY VERY stale. THe five star hotels, fancy dinners, subsidized life becomes the 'norm' and ...

All Thank you for your advice again. If I offended anyone with my choice of words or came across as whining when describing our income or the emotion we feel about our month to month spend, my humble apologies; not my intention AT ALL. We never forget how fortunate we are, and are trying to instill ...

I don't think you understand what "living paycheck to paycheck" means. Momar - I guess I mean we feel like we are always in a pinch. Which I agree is crazy given what we save... hopefully that makes sense! Not sure it does even in my head. There's nothing obvious here to indicate the fina...

All Thanks very much for the counsel. I agree we save a lot/overpay the mortgage - I guess we are trying to be as financially responsible as possible, but do need to balance that. Mainly I wanted to see that we were not saving too little, or in the wrong places. The rental home I agree is not ideal;...

If your mortgage interest rate is reasonable, I would stop paying extra on the mortgage if you want to spend more money on eating out, cars, vacations, and things like that. Mortgage rate is 3.5% on a 30 year fixed. I agree... less overpayments would be good; but trying to balance that with being d...

hand wrote:Two pieces missing from this puzzle: 1) What are your annual expenses beyond the $100k in savings you identified2) What debt do you have other than the mortgage (credit cards, car loans etc.)

Experts So, I wanted to give a snapshot of our finances and situation and see if we are doing anything wrong and what we are doing right. As a couple we both have professional jobs but still feel like we are living paycheck to paycheck despite having decent income. Let me know if you need more infor...

All, We have just purchased a new home and have a 30 year mortgage on it. We would like to pay it off in 10-15 years prior to hitting 50. However having a new job, I would like to keep the overpayment to one side (I am somewhat cautious) and gradually put the money in - say save 24 months worth and ...

Thanks all.... Yes, we had one payment we missed when we moved (Argghhh) for $60 which is now paid off. We had told the retail store we had moved but somehow it did not update on their system but they have refunded all of the fees/interest. Is there anything else I can do?